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Danske money laundering scandal is 'tip of iceberg', whistleblower's lawyer says
Danske Bank’s (DANSKE.CO) 200 billion euro ($225 billion) money laundering scandal might be the “tip of the iceberg” and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said.
Stephen Kohn, a partner at U.S. law firm Kohn, Kohn and Colapinto who is representing Danske whistleblower Howard Wilkinson, told Reuters that Danske may be only a bit player in a scheme to move wealth from countries like Russia to the West.
“It looks like the tip of the iceberg,” he told Reuters on the sidelines of a two-day London OffshoreAlert conference on financial intelligence and investigations. “The problem is far bigger than has been reported...
“If this is properly investigated, and the money followed all the way to the end - it all went to large, multinational Western financial institutions and either the U.S. government or other authorities have the ability to track down every transfer and any account,” he said, without providing evidence for the allegation.
Wilkinson, a British former head of markets in Danske’s Estonian branch until 2014, was outed by newspapers in September as the whistleblower who helped lift the lid on how billions of euros of non-resident money, much of it from Russia, had flowed through the tiny branch between 2007 and 2015. - Reuters
Stephen Kohn, a partner at U.S. law firm Kohn, Kohn and Colapinto who is representing Danske whistleblower Howard Wilkinson, told Reuters that Danske may be only a bit player in a scheme to move wealth from countries like Russia to the West.
“It looks like the tip of the iceberg,” he told Reuters on the sidelines of a two-day London OffshoreAlert conference on financial intelligence and investigations. “The problem is far bigger than has been reported...
“If this is properly investigated, and the money followed all the way to the end - it all went to large, multinational Western financial institutions and either the U.S. government or other authorities have the ability to track down every transfer and any account,” he said, without providing evidence for the allegation.
Wilkinson, a British former head of markets in Danske’s Estonian branch until 2014, was outed by newspapers in September as the whistleblower who helped lift the lid on how billions of euros of non-resident money, much of it from Russia, had flowed through the tiny branch between 2007 and 2015. - Reuters
Russian money flowing into the West. Trump working with Russian money as its primary source to fund its operations. Coincidence?
3 replies
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= new reply since forum marked as read
This means more Magnitsky sanctions for sure. Now most of the European countries are making their own Magnitsky laws. Freeze those funds! Let's ask Bill Browder what he thinks.
